Multi-Fineline Shares Up 18% After Reporting Earnings

Today, shares of Multi-Fineline Electronix MFLX are up more than 18% after the company reported earnings. The Company expects to report fiscal first quarter net sales of approximately $239 million , relatively in-line with the same period of the prior year. Gross margin during the first quarter of fiscal 2012 is expected to be approximately 12.2 percent, compared to 14.3 percent for the same period in the prior year. During the fiscal 2012 first quarter, the Company expects customers A, C and D to represent approximately 5 percent, 66 percent and 27 percent, respectively, of net sales. For competitive and customer confidentiality reasons, the Company does not disclose its customers by name.